Marvell Faces Split Calls as Citi Flags CES Catalyst and Moody’s Moves Credit Rating to Baa3

Shares have swung since the earnings beat because optimism on AI demand competes with caution over hyperscaler chip timing.

Overview

Citi kept a Buy rating with a $114 target and placed Marvell on a 30‑day catalyst watch ahead of CES, citing reinforced confidence in 2026–2027 AI data‑center growth.
Benchmark reiterated a Hold on December 23, Cantor Fitzgerald cut its target to $100 on December 16, and JPMorgan reaffirmed a $130 Overweight on December 8.
Moody’s changed Marvell’s senior unsecured rating to Baa3 from Baa2, citing improved profitability in recent updates reported this month.
After posting fiscal Q3 revenue of $2.07 billion and EPS of $0.76, both above estimates, the stock jumped about 7.9% the next day before sliding roughly 7% by December 26.
Management tied the growth to data‑center products and plans to showcase scale‑up networking solutions at CES, which some analysts view as a near‑term sentiment driver.